Cryptocurrency News: In October, cryptocurrencies saw a long-awaited recovery pending a less aggressive stance by the Federal Reserve that pushed Bitcoin and Ethereum higher by 3.38% and 9.90% (on Oct 25).
Since June 2020 institutional digital asset volume has been observed and the October figure was the lowest ever recorded with average daily trading volume down 34.1% to $61.3M (again VMGs happened to be under $100M).
Purpose ETF products saw an increase in trading volume with Purpose Bitcoin ETF (BTCC) and Ether ETF (ETHH) up 298% and 172%, respectively.
Over time, Bitcoin has acquired the role of a strategic asset and now no institutional or non-institutional investor can ignore the percentage of BTC in their portfolio.
The most relevant cryptocurrency news on the market
From the Covid period onwards, BTC has known significant affirmation among insiders who increasingly see it as a safe haven asset to use against inflation that has not yet decided to leave the real economy and markets alone.
While the limits imposed by regulations become clearer with time and institutional investors can already enjoy the no And extensive US legislation in this regard, ETNs and ETFs are becoming increasingly used tools.
These tools allow you to get close to the world of cryptocurrency without directly owning it and within a well-defined regulatory framework.
Waiting for more moderate moves by Federal Reserve And other central banks in the world that came from months of tight monetary policies to higher interest rates in October, the markets took a physiological breath of fresh air.
Bitcoins And the Ethereum go up from 3.38% and 9.90% (Weighing in on ETH happened to merge that changed digital currency to proof of stake).
As a result of the above, digital asset products were also appreciated and it can be seen that those based on ETH grew by 3.35% while those based on Bitcoin grew by 2.55%.
The same trend also for credit products, which grew by 2.33% to $17.7 billion.
While October was a noteworthy month for cryptocurrencies in many respects, September was the low month for all crypto products.
If we consider volumes, it is still struggling to grow and is already recording the worst performance from June 2020 to date at -34.1% ($61.3 million only).
Cryptocurrency News: Performance of Crypto ETFs
Purpose ETF products soared in trading volume with the Purpose Bitcoin ETF
(BTCC) and Ether ETF (ETHH), respectively by 298% and 172%.
The ETH/USD post returns 9.91%.
exchange-traded fund an open-ended fund traded on an exchange (Exchange Traded FundsNatural individuals own the underlying assets tracked by the fund.
Exchange-traded securities (ETN) are similar to ETFs in that they can be easily traded on an exchange.
An important difference between the two is that you do not own the underlying asset of the ETN: it is a debt security backed by a bank or institution and usually comes in the form of a bearer certificate, the investor can invest his money in this product and is entitled to returns based on the variable value of the underlying assets that based on it. These products generally have lower regulatory security requirements than ETFs and can be fully insured or uninsured.
An investment fund is a type of closed-end fund created by a company, so that its shares can be bought and sold on a stock exchange or over-the-counter market. This investment fund invests in a portfolio of assets; Thus, the value of a company’s share is related to the value of the underlying assets it owns.
In October, the total increase of all digital asset investment products increased by 1.76% $22.9 billion.
products greyscale Continuing to account for the vast majority of assets under management at $17 billion (74.1% of total), followed by XBT providers at $1.30 billion (5.66% of total) and 21 posts to me $931 million (2.77% of the total).
Average weekly net inflows increased this month by an average of $730,000 compared to average weekly outflows of $9.20m in September.
Bitcoin-based products averaged $8.37 million in weekly net inflows in October, while exchange-traded ETCs were mostly those of CoinShares’ XBT Tracker Euro remained the largest increase among ETCs in October, up 2.69%. to $419 million.
Average daily aggregate product volumes across all digital asset investment products fell by 34.1% to $61.3m in October, continuing a downward trend in volumes seen since November 2021 (excluding a slight increase of 0.39% in May).
It is the second month since September 2020 that average daily volumes have fallen below $100 million.
Innovative indicators and products in the cryptocurrency sector
The MVDA Index, a market index that tracks the performance of a basket of the 100 largest digital assets, rose 6.86% over the 30-day period.
The index is a benchmark for other MVIS CryptoCompare Digital Assets indices.
On September 28, CryptoCompare Blockdaemon, the leading blockchain company (node management and staking infrastructure), announced the launch of Staking Yield enabling more informed investment and cutting-edge strategies in a regulated and secure environment.
The CryptoCompare Blockdaemon Staking Yield Index family is designed to measure the annual rate of return of daily betting generated by digital assets, enabling institutional investors to create yield and swap products, benchmark portfolios, conduct research and more.
The index family will initially do this by featuring five curated indices that capture the annual daily return of stake for the best performing point-of-sale (PoS) digital assets: AvalancheAnd the CardanAnd the CosmosAnd the dripper And the Solana.